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When I got into the industry more than 50 years ago, finance was an adjunct to the real economy.
Basically it was used to finance real growth. But today it’s become the dominant factor in the world.
That is, finance is running the world and the real economy is kind of a sideline. It’s the adage about the tail wagging the dog.
But in this instance the tail is swinging the dog around the room and banging it off all four walls until it’s comatose.
And that’s basically what’s happening to the real economy -- it’s going to be comatose before this is over. --
John Embry
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Total since June 2014335890

2019-04-20

Banker Dollar value development

Baby Frog: Mama, who is smarter- a chicken or a frog? Mama Frog: We are of course!!
Baby Frog: How do you know? Mama Frog: Well, who ever heard of Kentucky Fried Frog?
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Why are frogs so happy? They eat whatever bugs them!